The earnings call presented a challenging picture for Dow with significant declines in financial performance and a dividend reduction due to persistent industry downturns. However, strategic cash influxes from partnerships and divestitures, along with cost-saving measures, provide some positive outlook.

Company Guidance -

Q3 2025

During the Dow Second Quarter 2025 Earnings Conference Call, the company provided guidance on various key metrics and strategic actions. Dow reported second-quarter net sales of $10.1 billion, down 7% from the previous year, with EBITDA at $703 million, reflecting challenging market conditions and a prolonged industry downturn. To maintain financial flexibility, Dow announced a 50% dividend reduction effective in the third quarter. The company also highlighted its strategic infrastructure partnership, which generated $2.4 billion in cash, and the expectation of receiving $1.2 billion from the NOVA judgment. Dow is targeting $1 billion in cost savings by 2026, with $400 million anticipated this year. For the third quarter, Dow provided guidance for approximately $800 million in EBITDA, indicating an improvement over the second quarter, driven by better polyethylene integrated margins, increased volumes from growth investments, and cost savings initiatives.

Infrastructure Partnership Cash Influx

Dow received $2.4 billion from its strategic infrastructure asset partnership named Diamond Infrastructure Solutions, with potential for an additional $600 million if Macquarie increases their stake.

Cost Saving Initiatives

Dow accelerated progress on its $1 billion cost savings actions, with expectations to deliver $400 million in savings this year, up from the original target of $300 million.

New Growth Projects

Commissioning of the Poly-7 polyethylene train in the U.S. Gulf Coast and a new alkoxylation unit in Seadrift, Texas, which are expected to support earnings growth.

Strategic Divestitures

Dow announced divestitures of two noncore product lines totaling approximately $250 million at attractive EBITDA multiples of around 10x.

Dow Inc (DOW) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DOW Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 23, 2025	2025 (Q3)	-0.28 / -	0.47	―	―	―
Jul 24, 2025	2025 (Q2)	-0.17 / -0.42	0.68	-161.76% (-1.10)
Apr 24, 2025	2025 (Q1)	-0.01 / 0.02	0.56	-96.43% (-0.54)
Jan 30, 2025	2024 (Q4)	0.24 / 0.00	0.43	―
Oct 24, 2024	2024 (Q3)	0.46 / 0.47	0.48	-2.08% (-0.01)
Jul 25, 2024	2024 (Q2)	0.71 / 0.68	0.75	-9.33% (-0.07)
Apr 25, 2024	2024 (Q1)	0.45 / 0.56	0.58	-3.45% (-0.02)
Jan 25, 2024	2023 (Q4)	0.40 / 0.43	0.46	-6.52% (-0.03)
Oct 24, 2023	2023 (Q3)	0.44 / 0.48	1.11	-56.76% (-0.63)
Jul 25, 2023	2023 (Q2)	0.70 / 0.75	2.31	-67.53% (-1.56)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DOW Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 24, 2025	$30.37	$25.07	-17.45%
Apr 24, 2025	$28.29	$29.04	+2.65%
Jan 30, 2025	$39.32	$36.93	-6.08%
Oct 24, 2024	$48.55	$48.08	-0.97%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.